Question

Find out the amount paid by Andrew to a finance company if he borrowed a sum of Rs 15,000 at the rate of 7% for three years.

Answer 1

Answer:

amount=18150

Step-by-step explanation:

Given

P=15000

R=7%

N=3

SIMPLE INTEREST=$\frac{P X N X R}{100}$

S.I=$\frac{15000 X 7 X 3 }{100}$

   =150 x 7  x 3

   =3150

for amount as we know

Amount =P + s.i

              =15000+ 3150

             =18150

Answer 2

Dear Student,

● Answer -

Total repay = 18150 Rs

● Explaination -

# Given -

Proncipal = 15000 Rs

Interest rate = 7 %

Time = 3 years

# Solution -

Simple interest is calculated as -

Simple interest = principal × interest rate × time

Simple interest = 15000 × 3 × 7/100

Simple interest = 3150 Rs

Total amount Andrew have to repay is given by -

Total = principal + interest

Total = 15000 + 3150

Total = 18150 Rs

Therefore, Andrew paid 18150 Rs to finance company.

Thanks dear...